Sprouts Farmers Market, Inc.

Thank you for standing by, and welcome to the Sprouts Farmers Market second quarter 2023 earnings conference call. At this time, all participants are in listen-only mode. After this speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 1-1 on your telephone. To remove yourself from the queue, simply press star 1-1 again. As a reminder, today's program is being recorded. And now I'd like to introduce your host for today's program, Susanna Livingston, Vice President of Investor Relations and Treasurer. Please go ahead.

Thank you, and good afternoon, everyone. We are pleased you are taking the time to join Sprouts on our second quarter 2023 earnings call. Jack Sinclair, Chief Executive Officer, and Chip Malloy, Chief Financial Officer, are with me today. The earnings release announcing our second quarter 2023 results, the webcast of this call, and quarterly slides can be accessed through the investor relations section of our website at investors.sprouts.com. During this call, management may make certain forward-looking statements, including statements regarding our expectations for 2023 and beyond. These statements involve several risks and uncertainties that could cause results to differ materially from those described in the forward-looking statements. For more information, please refer to the risk factors discussed in our SEC filings and the commentary on forward-looking statements at the end of our earnings release. Our remarks today include references to non-GAAP measures. Please see the tables in our earnings release to reconcile our non-GAAP measures to the comparable GAAP figures. With that, let me hand it over to Jack.

Thanks, Susannah, and good afternoon, everyone. I'm pleased to announce another solid quarter for Sprouts Farmer's Market. Our 31,000 team members delivered comparable store sales growth of 3.2%, total sales growth of 6%, and adjusted earnings per share growth of 25% in the second quarter. Their efforts to provide a unique in-store and online experience, differentiated products, and superior customer service all continue to establish Sprouts as a go-to healthy speciality food retailer. During the quarter, we opened six new stores and are on a path to open at least 30 for the full year, allowing us to profitably expand our reach to new health enthusiasts and innovation-seeking customers. During the quarter, we also relocated our Southern California distribution center to a new, larger facility, and we simultaneously expanded our tech to DC. These distribution centers will allow us to bring fresher products to our customer base while providing capacity for growth in those markets for years to come. In a moment, I'd like to turn it over to Chip, who will provide a closer look at our second quarter financial performance and our outlook for the remainder of the year. Before doing so, I want to take a few moments to thank Chip for his 10 plus years of service to Sprouts. As you may have seen in our release this afternoon, Chip has decided to retire at the end of this year. Chip has been a tremendous asset as a member of our board and executive leadership team. And on a personal basis, I valued and enjoyed our partnership.